Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• RESIDENTIAL MORTGAGES
  
  Residential mortgages may be made for purchase of a residence or for refinancing of an existing mortgage. These loans require regular scheduled payments of principal and interest (usually monthly payments). Some of the loans in residential mortgage pools may have an interest only period prior to the beginning of principal amortisation. The balance of a securitization of residential mortgage loans will amortise as the loans are repaid, whether on schedule or by prepayment.
  
  Back